2021 SANFL AGM – Financial Results

SANFL has released its 2021 Financial Results which demonstrate the continued impact of COVID-19 on the League’s operations.  

Although the organisation recorded positive cash earnings of $2.84m, this is largely attributable to the State Government’s direct and indirect support totalling $4.6m and counteracts the $2.9m loss in 2020. This support from Government included suspending Adelaide Oval rent payments and a partial deferral of sinking fund payments for which SANFL and SACA are jointly responsible.

Despite this assistance, SANFL’s net return from Adelaide Oval was 30% down on pre-COVID levels after paying its 50% contribution toward the stadium’s operating costs.

When balanced against the FY2020 loss, SANFL has effectively recorded a break-even position over the past two years, and the continued uncertainty around stadium revenues and the cessation of government support measures has the League budgeting for a $1m loss in 2022.

The 2021 figures also reflect the League’s lower cost structure, which included a second year of reduced distributions to member clubs and lower staffing levels, with many staff not returning to full duties until January 2021.

The results were released by SA Football Commission Chair Rob Kerin at tonight’s SANFL AGM.

“While it is pleasing to have recorded a positive cash result, it does not mask the underlying factors that continue to challenge our business,” Mr Kerin said.

“We are fortunate to have benefited from government support that has helped us offset what otherwise would have been a significant loss in FY2021 despite our ongoing focus on cost management.

“Our projections for the year ahead indicate that net returns from Adelaide Oval will remain lower than pre-COVID levels, and that will continue to put significant pressure on our business.”

The positive cash result for 2021 has allowed SANFL to pay down $3.74m of bank debt, effectively retiring League debt as scheduled.

“The ongoing sale of land at Football Park has been a critical underpinning for SANFL, enabling us pay down $37m in debt over the past seven years,” Mr Kerin said.

“For our organisation to be debt-free is very important, particularly given the headwinds we continue to face.”